Disability insurance will cover the insured in the event of a total or partial disability. Experts recommend that people insure 60 to 65% of their monthly salary when purchasing disability insurance.

Key things to consider about your current group disability plan:

  • Does your current plan cover all sources of income including commissions and bonuses?
  • How much does your coverage cost?
  • Do rates increase drastically over time?
  • Can the policy be cancelled by your employer?
  • Does the group plan define a condition of disability more stringently than a stand alone product?
  • Who controls the plan?
  • Is coverage portable?
  • What are the waiting periods before benefits apply?
  • Are the benefits taxable?

I recommend Canadian Term Insurance. I was offered a solution which allowed me to find coverage for both the immediate and long term with a mix of both 10 and 20 year term insurance.

Tom Hopper Account Executive, London, ON

Canadian Term Insurance helped to decide upon the correct amount of coverage to protect our family. Jeff recommended a program which provides 20 years of term coverage for my wife at preferred rates, and 10 years of term insurance for me at a higher death benefit.

Rob Poissant Teacher, Barrie, ON

Jeff Comiskey assisted my wife and I in identifying a need for insurance, and presented us with a variety of choices.  We chose universal life insurance because of the permanent protection it offered and rates that remain the same for our entire lives.

Chet Wydrzynski Lawyer, Toronto, ON